Orange County Bancorp, Inc. (NASDAQ:OBT – Get Free Report) was the recipient of a significant drop in short interest during the month of April. As of April 15th, there was short interest totalling 24,100 shares, a drop of 15.1% from the March 31st total of 28,400 shares. Currently, 0.5% of the shares of the company are short sold. Based on an average trading volume of 7,000 shares, the short-interest ratio is presently 3.4 days.
Hedge Funds Weigh In On Orange County Bancorp
Institutional investors have recently modified their holdings of the business. SG Americas Securities LLC bought a new position in Orange County Bancorp in the third quarter valued at about $100,000. Bank of New York Mellon Corp increased its position in Orange County Bancorp by 2.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 23,208 shares of the company’s stock worth $1,002,000 after purchasing an additional 642 shares in the last quarter. First Horizon Advisors Inc. bought a new position in Orange County Bancorp in the 3rd quarter valued at approximately $108,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Orange County Bancorp during the third quarter worth $60,000. Finally, Coombe Bender & Co LLC increased its holdings in shares of Orange County Bancorp by 12.8% during the fourth quarter. Coombe Bender & Co LLC now owns 13,118 shares of the company’s stock worth $790,000 after buying an additional 1,488 shares in the last quarter. Institutional investors and hedge funds own 42.55% of the company’s stock.
Orange County Bancorp Stock Performance
Shares of OBT traded down $2.37 during midday trading on Tuesday, reaching $43.21. 8,469 shares of the stock were exchanged, compared to its average volume of 7,309. Orange County Bancorp has a twelve month low of $26.88 and a twelve month high of $64.01. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.54. The stock’s 50 day simple moving average is $45.51 and its 200 day simple moving average is $47.85. The company has a market cap of $244.57 million, a P/E ratio of 8.09 and a beta of 0.25.
Orange County Bancorp Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Monday, March 4th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date of this dividend was Friday, March 1st. Orange County Bancorp’s dividend payout ratio is presently 17.59%.
About Orange County Bancorp
Orange County Bancorp, Inc, through its subsidiaries, provides commercial and consumer banking products and services, and trust and wealth management services to small businesses, middle-market enterprises, local municipal governments, and individuals. It accepts various deposits, including interest-bearing and noninterest-bearing demand accounts, money market deposit accounts, savings accounts, and certificates of deposit.
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